598 2nd St, Healdton, OK 73438

Building Details

Year Built 1945 More

Listing Agency: Ardmore Realty, Inc

Listed By: Hannah Lewis · License OK #181598 Show Phone

Source: Alloverok

Added: Aug 1 Changed: Nov 5 Last Checked: Nov 10 at 1:30PM

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Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Ardmore Realty, Inc

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Investment Insights

Based on property information with market context.

This multifamily package comprises four rental units on a corner lot in Healdton. The mix includes two one-bedroom, one-bath residences and two two-bedroom, one-bath residences. Updates have been completed in each unit, and the driveway was recently redone.

All four residences are currently rented, with year leases in place. The property is located at 598 2nd St in Healdton, Oklahoma, and was built in 1945. The four-unit configuration and existing leases provide an established rental setup for a multifamily owner.

Key Highlights

• Four rental units at 598 2nd St, Healdton, OK 73438
• Unit mix includes two 1‑bed/1‑bath and two 2‑bed/1‑bath residences
• All four units are currently rented with year leases in place

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$16,431

Cap Rate

7.64%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$328,620 $328.6K

Cap Rate 7%

$234,729 $234.7K

Cap Rate 9%

$182,567 $182.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,304 SF

Gross rent

$33.5K $14.52/SF

− Vacancy

−$3.6K −$1.55/SF

EGI

$29.9K $12.97/SF

− OpEx

−$13.4K −$5.83/SF

NOI

$16.4K $7.13/SF

Area

Carter County, OK

Vacancy

10.70%

Lease Rate

$14.52 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$328,620

Cap Rate 7%

$234,729

Cap Rate 9%

$182,567

Alternative Uses

Best Use

Apartment 5plus

$234.7K

$205.4K – $273.9K (±1% cap)

NOI $16,431 @ 7.0% cap · market cap 7.64%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$590.9K

$517.0K – $689.4K (±1% cap)

NOI $41,361 @ 7.0% cap · market cap 19.24%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Lease Details

4

Residential units

100%

Occupancy

Location Intelligence

Trade Area within ½ mile

188

Businesses Nearby

Explore this area Business Placement

Demographics for 73438, OK

2,888

Population

1,562

Households

1.8

Avg Household Size

42

Median Age

15%

College-Educated

83%

High-School Grad

70.4 sq mi

ZIP Area

41

Density / Sq Mi

$50,542

Median Household Income

$34,254

Median Earnings

$845

Median Rent

$70,900

Median Home Value

Market

Average Price Trend$/SF for Multifamily properties in Carter County, OK

$85.91 Jul

$69.19 Aug

$71.09 Sep

$73.13 Oct

Properties on Market for Multifamily properties in Carter County

Jul

Aug

Sep

Oct

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

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Frequently Asked Questions

What type of property is this?

Multifamily property - Corner-lot rental package with updated units, established occupancy, and year-long leases in place.

Where is this multifamily property located?

The property is located at 598 2nd St Healdton, OK.

What is the asking price?

The asking price for this property is $215,000.

What are key features of this property?

This property features: Four rental units at 598 2nd St, Healdton, OK 73438; Unit mix includes two 1‑bed/1‑bath and two 2‑bed/1‑bath residences; All four units are currently rented with year leases in place